When I manually download a .qbo file, the Bank Balance on Quickbooks Online does not update, even though the number in the .qbo file is correct. Is there a way to fix it?

Welcome to the Community, @bvrimembership.

Thank you for taking the time to visit the page. Do you receive any error message?

In QuickBooks, the bank balance will only update once you’ve matched or added the transactions. If you haven’t done this yet, let’s add and match them first. 

Here’s how:

1. From your left navigation pane, select Banking.
2. Select the transactions you’ve uploaded under For review.
3. Click the Add or Match option under ACTION.

You can check this article for reference about Categorizing and matching online bank transactions in QuickBooks Online.

Otherwise, let’s perform a few troubleshooting steps to determine if this cause by a browser-related issue. Please start logging in your QBO account to a private browser or an incognito window.

If it works, you can go back to your main browser and clear its cache. This completely removes browsing history. You can also use other browsers as an alternative.

I’ve attached an article about reconciliation, so you have a guide moving forward: Reconcile an account.

Don’t hesitate to reach us again if you need more help. Take care.

Unfortunately, I did all you suggested and it does not fix the issue.   I matched and added all transactions, successfully reconciled, and tried a different browser in incognito mode.   On the Banking page, the number "In Quickbooks" is correct and is the actual bank balance.   The number "Bank Balance" has stopped changing even if the correct balance is in the .qbo file for that account.    It just won't ever change.....

Thank you for any help you can give!  

Thanks for getting back to us and performing some steps to resolve the issue, bvrimembership.

The Bank Balance only updates when there has been a bank feed connection. It is also your bank's actual balance from the last bank feed update. While the QuickBooks Balance is the total balance of all bank transactions that you've added or matched to QuickBooks. Thus, the balance on the imported bank transactions will only affect the QuickBooks Balance and not the Bank Balance. 

To update the Bank balance, you can manually update your bank account. Here's how:

1. On the left navigation bar, click Banking.
2. Go to Banking tab.
3. Click Update.

You can take a look at this article for your reference: How to manually update bank accounts.

I'm just a post away if you have any questions about updating bank transaction in QuickBooks Online. Wishing you and your business continued success.

Yes, I did all that and the Bank Balance still does not update.   I even went though the qbo file to check the balance and the format, and it looks correct.    The last bank balance is correct in the qbo file, at the end of the transactions, but Quickbooks will not take that balance and update "Bank Balance".     It used to do it just fine, but for the last couple of months it stopped updating.     I thought maybe my bank changed the format of the generated qbo file, but I looks at previous downloads and it looks the same and worked fine.    Is there somewhere I can see the qbo file format explanation? 

Hello bvrimembership!

I'd agree with Merriam that the Bank Balance will update if accounts are connected. Normally, we'd click on the Update button to get the latest feeds from your bank, which you mentioned you did. The import option will not update it.

If you'd like, we can check this further with help from Support. They will be able to use a screen-sharing tool to see your setup. That way, you'll have peace of mind.

1. Click on Help and choose Contact Us.
2. Enter a summary of your question in the text box and click Let's talk.
3. Choose between Message an agent or Get a callback. These options are available during their office hours.

On the other hand, the most important thing is you'll be able to reconcile your account. This will prove that the transactions in your bank register match with the transactions in your bank in the past statement periods.

If you have any other questions about the balances on the Banking page, please feel free to reply to this thread.